Opinion: Rising gas prices will hurt low-income families the most. The government needs to help

With overdue bills already hanging over their heads, gasoline price increases will make it even more difficult for low-income families to get back on their feet. In the short term, the federal government can help, writes Mark Wolfe for CNN Business Perspectives.

           

https://www.facebook.com/cnn/posts/10162145017281509

They want you to believe this is demand recovery after the pandemic but the prices are highest since 2014 so there's BS in that story. Wake up call too to the fact that it's not just low income families with kids who pay higher prices. It's individuals and couples struggling as well and how about those seniors on fixed incomes who lost partners and half their monthly household income to this pandemic without any reduction in household bills? The help the government can give is to the fossil fuel industry here in the US that suffered during the pandemic and have been unable to come back on line. Get them going, improve supply and the price goes down without worrying as much about overseas factors. Our industry is down about 20%. Instead of helping Americans this admin is bickering about supply with OPEC and don't seem to be worried much about the carbon emissions released from shipping in imports. Supporting foreign economies instead of our own is traitorous.


da (*f*censored). I already have housing that I only pay 30 percent of my income, free health care, free taxis to healthcare appointments, free smart phone lines, free food, my disabilities social security check(which at this point is other peoples tax dollars), reduced almost free utilities and your telling me I am still oppressed somehow and need free gasoline too. Most of us minorities who live in "poverty" have more to spend on ourselves each month after we pay our bills than most hard working middle class white people grinding it 9-5pm everyday. Its just plan greed at this point. IF you are the working poor thats different but everyone else who is not working have plenty of freebies and now just being down right greedy and incentifying people to stay on the system cause you know it gathers liberal votes.


So far this year, gasoline prices have risen 88 cents, or a 40 percent increase, to $3.13 a gallon on July 6. That’s not chump change. Mark Finley, a fellow at Rice University’s Center for Energy Studies, estimated that increase translates into extra costs of $120 billion for U.S. consumers on an annualized basis.

The biggest factor in the price of gasoline is crude oil. Well over 50 percent of the price at the pump is directly tied to the cost of crude oil. About 18 percent of the cost relates to state and federal taxes — the latter of which has not increased under Biden. About 15 percent stems from distribution and marketing, while 13 percent comes from refining costs and profits. (These figures are from AAA.)


For some reason These people who raise wages and make our laws seem to be freaking idiots with every 25 cent raise come a 300 cost of living raise from grocerys to gas to bills the extra 50 in our paychecks have to be made up elsewere Instead of raises things put gaps on what people can charge like gas nimo water nessasary needs toilet paper soap tampons ect A truck driver who just got that dollar raise now stores and manufatuers of items being delivered just went up people are idiots put gaps on nessasary things stop giving them raises my 50 extra in my check hurts im now paying taxes on itthen cost of living went up my once 129 a roll of twat paper now cost 200




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